So.... what does PG&E filing for bankruptcy mean for Californians? Can some smart people on energy policy, insurance, climate, etc. respond to this below?https://twitter.com/EdLudlow/status/1062739216109514752 …
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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Kim-Mai Cutler Retweeted Ed Ludlow
So.... what does PG&E filing for bankruptcy mean for Californians? Can some smart people on energy policy, insurance, climate, etc. respond to this below?https://twitter.com/EdLudlow/status/1062739216109514752 …
Kim-Mai Cutler added,
It means we must change the inverse condemnation law in CA. It's not possible in this era of climate change for an IOU to generate and distribute power thru millions of dead trees to homes, maintain those lines to code and safe zones around them, and still be liable for damages.
Would California voters accept a system where shareholders reap the rewards when PG&E makes a profit, but the public has to subsidize the losses when PG&E equipment is the cause of catastrophic fires? Sounds like a tough sell to say the least.
What if PG&E maintains their equipment 100% up to code, and has cut all the firebreaks around that equipment according to code, and a turkey vulture flies into a pylon, sparks a fire in the middle of a stand of dead trees that PG&E didn't kill. Who should pay for that fire?
It's a good question. If climate change makes such events so commonplace that PG&E can't cover those losses and operate at a profit without massive public subsidy, will it still make sense for it to remain investor owned? Either way it's an existential question for PG&E.
or humans should probably not live in disaster prone areas?
To be fair to the people who live in Paradise and places like it, they weren't disaster prone when they moved there. there are 130-150M dead trees in CA from the last drought. A fire 20 years ago could be caught and put out fairly fast, today it burns a whole town in 60 mins.
yes. So people, individually, and people, collectively probably need to make different choices going forward.
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